The Goldman Sachs Group Initiates Coverage on Immunome (NASDAQ:IMNM)

Key Points

• The Goldman Sachs Group has upgraded Immunome (NASDAQ:IMNM) to a "strong-buy" rating, reflecting increased confidence in the company's stock performance.
• Immunome has a current consensus rating of "Buy" from analysts, with a price target averaging at $23.20.
• The stock has seen notable trading activity, opening at $9.77, and has a market capitalization of approximately $850.38 million.

Research analysts at The Goldman Sachs Group started coverage on shares of Immunome (NASDAQ:IMNM - Get Free Report) in a report issued on Monday, Marketbeat reports. The firm set a "buy" rating and a $26.00 price target on the stock. The Goldman Sachs Group's price target would indicate a potential upside of 166.12% from the stock's previous close.

IMNM has been the topic of several other research reports. Wedbush reaffirmed an "outperform" rating and issued a $21.00 target price on shares of Immunome in a research note on Thursday, September 18th. Evercore ISI assumed coverage on shares of Immunome in a research note on Friday, August 22nd. They issued an "outperform" rating and a $18.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on shares of Immunome from $23.00 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Guggenheim reiterated a "buy" rating and issued a $25.00 price target on shares of Immunome in a research report on Monday, August 25th. Finally, Craig Hallum started coverage on shares of Immunome in a research report on Friday, September 5th. They issued a "buy" rating and a $26.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $23.20.

Immunome Stock Up 4.0%

Shares of NASDAQ:IMNM opened at $9.77 on Monday. Immunome has a 12 month low of $5.15 and a 12 month high of $15.40. The company's 50-day moving average price is $10.03 and its two-hundred day moving average price is $8.84. The firm has a market cap of $850.38 million, a P/E ratio of -3.17 and a beta of 1.92.

Immunome (NASDAQ:IMNM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.02. The company had revenue of $4.02 million for the quarter, compared to analyst estimates of $1.03 million. Immunome had a negative net margin of 1,687.08% and a negative return on equity of 76.10%. As a group, equities analysts predict that Immunome will post -2.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immunome

Several hedge funds and other institutional investors have recently made changes to their positions in IMNM. Primecap Management Co. CA boosted its position in Immunome by 1,115.7% during the first quarter. Primecap Management Co. CA now owns 3,413,700 shares of the company's stock worth $22,974,000 after purchasing an additional 3,132,900 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in Immunome by 37.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 7,554,594 shares of the company's stock worth $50,843,000 after purchasing an additional 2,054,640 shares during the period. Vanguard Group Inc. boosted its position in Immunome by 43.4% during the first quarter. Vanguard Group Inc. now owns 4,307,191 shares of the company's stock worth $28,987,000 after purchasing an additional 1,303,753 shares during the period. Woodline Partners LP boosted its position in Immunome by 69.0% during the first quarter. Woodline Partners LP now owns 1,657,729 shares of the company's stock worth $11,157,000 after purchasing an additional 676,804 shares during the period. Finally, Driehaus Capital Management LLC bought a new position in Immunome during the first quarter worth $4,109,000. 44.58% of the stock is owned by institutional investors.

About Immunome

Immunome, Inc, a biotechnology company, develops targeted cancer therapies. The company's clinical asset comprises AL102, an investigational gamma secretase inhibitor currently in evaluation in a Phase 3 trial for the treatment of desmoid tumors; and preclinical assets consist of IM-1021, a receptor tyrosine kinase-like orphan receptor 1 and antibody-drug conjugates, as well as IM-3050, a fibroblast activation protein targeted radioligand therapy; and IM-4320, an anti-IL-38 immunotherapy candidate.